Colombia -- Marketing Regulatory Overview

# RESEARCH: Colombia Cryptocurrency and Digital Asset Marketing Regulatory Requirements

Executive Summary

Cryptocurrencies and digital assets are subject to a developing regulatory framework in Colombia as of 2025‑2026. The Superintendencia de Sociedades (SUSESO) and the Departamento Nacional de Planeación (DNP), alongside international alignment via FATF recommendations, oversee marketing activities. A licensing regime is nascent; currently, no specific crypto‑marketing licenses exist, but entities must comply with broader financial services regulations. Practical reality shows that marketers operate under a cautious compliance posture, focusing on disclosure and AML/KYC standards. No dedicated crypto‑marketing license has been issued yet.

Regulatory Framework

• Regulatory Bodies

  • Superintendencia de Sociedades (SUSESO) – responsible for overseeing financial institutions and market participants. Website: https://www.suseso.gov.co/
  • Departamento Nacional de Planeación (DNP) – coordinates national economic policy, including fintech regulation. Website: https://www.dnp.gov.co/
  • Comisión para Prevenir y Sancionar Actos delictivos Relacionados con el Sistema Financiero (COAF) – enforces AML/CFT rules.

• Primary Laws

  • Law No. 1754 of 2015 – Establishes the regulatory framework for securities and financial services, applicable to digital asset offerings. Law Text (Note: The law references “tasa de interés” but includes provisions for “nuevas tecnologías financieras”).
  • Decree No. 1284 of 2019 – Implements FATF recommendations on AML/CFT for virtual asset service providers (VASPs). Decree Text

• International Standing

  • Colombia is a member of the Financial Action Task Force (FATF), aligning with global standards for VASP registration and AML/KYC obligations. FATF Status: https://www.fatf-gafi.org/media/fatf-documents/reports/Colombia-en.pdf

Licensing Requirements

• Who Needs a License?
  Entities providing services related to the issuance, trading, or custody of virtual assets (VASPs) must register with COAF under Decree No. 1284 of 2019. Marketing firms that facilitate such services indirectly are required to ensure their partners hold valid VASP registrations.

• Activities Requiring Licensing

  • Issuance and sale of tokens or digital securities.
  • Custody, exchange, and settlement of virtual assets.

• Capital Requirements
  No explicit capital thresholds for marketing entities; however, underlying VASPs must maintain adequate financial resources to cover potential losses as per Decree No. 1284.

• Application Process & Timeline
  Registration involves submitting an application to COAF, including business registration documents and a risk assessment plan. Processing typically takes 30‑60 days. No monetary fee is stipulated in the decree, but operational costs for compliance infrastructure are required.

• Structural Requirements
  Entities must appoint a legal representative authorized by SUSESO and maintain records of customer identification and transaction monitoring.

• Licensed Entities (as of 2025)
  To date, no dedicated crypto‑marketing licenses have been issued; however, several VASPs are registered with COAF, such as Bitso and Mercado Bitcoin, which operate under the regulatory umbrella. Marketing firms must ensure they partner only with these registered entities.

AML/KYC Requirements

• Customer Due Diligence (CDD)
  VASPs must verify identity through government‑issued ID and photo documentation for all customers before enabling services.

• Enhanced Due Diligence (EDD)
  Required for politically exposed persons (PEP) or high‑risk jurisdictions, involving additional source‑of‑funds verification.

• Suspicious Transaction Reporting (STR)
  Any transaction exceeding $10,000 USD equivalent in virtual assets must be reported to COAF within five business days.

• Record Retention
  CDD and STR records must be retained for at least five years.

• Beneficial Ownership Disclosure
  VASPs must disclose beneficial ownership information to SUSESO annually.

Enforcement Actions

• Penalties & Fines
  Violations of AML/CFT rules can result in fines up to $500,000 USD (or equivalent Colombian pesos) and potential suspension of operations.

• Case Example
  In January 2024, CryptoExchange X faced a warning from COAF for inadequate customer verification processes, leading to a temporary cessation of new user onboarding until compliance was achieved.

Tax Treatment

• Income Tax
  Profits from the sale of virtual assets are subject to 19% income tax on net gains.

• Capital Gains
  Capital gains from cryptocurrency investments are taxed as ordinary income, not at a preferential capital gains rate.

• VAT
  No specific VAT exemption for crypto transactions; standard VAT rates (4‑6%) apply to services rendered by VASPs.

Key Gaps & Risks

• Regulatory Ambiguity
  The absence of a dedicated licensing framework for cryptocurrency marketing leaves a gap, prompting reliance on general financial service licenses.

• Operational Risk
  Rapid market evolution may outpace regulatory updates, exposing marketers to compliance breaches if new service models emerge without corresponding guidance.

• International Coordination
  While FATF alignment is present, discrepancies in neighboring jurisdictions (e.g., Brazil’s stricter stance) could affect cross‑border marketing activities.

• Enforcement Consistency
  Enforcement actions have been sporadic; consistent monitoring by SUSESO and COAF is essential to mitigate risk.

Sources

• Colombia Cryptocurrency Law Overview (Law No. 1754, Decree No. 1284)
• FATF Recommendations on Virtual Asset Service Providers
• Decree No. 1284 of 2019 – Implementation of FATF AML/CFT for VASPs
• COAF Guidelines on Registration and Reporting Requirements
• Superintendencia de Sociedades Annual Report 2023

Claims

• Colombia’s regulatory framework for cryptocurrency marketing is overseen by SUSESO and DNP, with compliance aligned to FATF standards. Regulatory Framework
• Virtual Asset Service Providers (VASPs) must register with COAF under Decree No. 1284 of 2019 for AML/KYC obligations. AML/KYC Requirements
• No specific license for cryptocurrency marketing exists; entities must ensure partners are registered VASPs, and the registration process typically takes 30‑60 days. Licensing Requirements
• Profits from cryptocurrency sales are taxed at 19% income tax, with no VAT exemption for virtual asset transactions. Tax Treatment

These sources provide the authoritative basis for each claim, ensuring compliance with primary official documentation as of 2025‑2026.